How EU Startup is Helping Businesses Grow With Brand Tracking
We hear the same old cliche over and over again: “brand tracking is not working properly.” What’s more, you know what? These individuals are correct. At the very least, to some extent. The traditional method of brand tracking is no longer effective. In recent years, advanced brand tracking has begun to take center stage, not only in the business but also with some of the fastest-growing companies in the world. You’re still not convinced? At least for the time being. This article highlights how a European firm is utilizing brand tracking to assist businesses in their growth.
Brand Tracking on a Higher Level
The Lantana brand tracking software is designed with one primary goal in mind: to assist B2C organizations in making more informed marketing decisions. The Latina team was dissatisfied with the unactionable data and significant margins of error that were being provided to brand managers, so they set out to create something of value.
How Latina Brand Tracking Aids in the Growth of Brands
In one respect, Latina is similar to other brand trackers in that it provides a means of consistently and precisely assessing brand health through the use of audience-specific brand indicators. The ability to monitor the impact of their marketing campaigns on key performance indicators (KPIs) becomes available to brand managers as a result (brand awareness, brand consideration, and brand associations). This information assists brand managers in justifying their budget expenditures and the value of their efforts in an area where this is frequently difficult to achieve.
Lantana has already had its fair share of success stories to share with the public. Headspace, an internationally recognized mindfulness app, is utilizing Latina to track the impact that their brand efforts are having on their brand performance. So far, Headspace has been able to demonstrate that the brand awareness efforts that they undertake in Germany are having a good impact on the company’s reputation. AirHelp was another company that was successful in gathering the precise data they required in regards to their target customers to develop better brand campaigns through the use of brand tracking software.
But what is it about Latina that makes it stand out from other brand trackers?
What Latina Does and How It Works
Simply put, Latina can deliver more than any other brand tracker on the market.
- Instead of the normal 2-3 audience segmentation, you get access to 1000s of them.
- Over the old-fashioned PDFs and PowerPoint presentations, an intuitive dashboard is preferable.
- Instead of once a quarter or even worse, once a year, continuously updated insights are provided.
- However, there is one big factor of value that Latina can provide that is superior to anything else:
The ability to accurately detect changes in specialized audiences of greater than 2-3 percent over some time.
What is the significance of this? As a result, brand managers can genuinely rely on the information that has been presented. They can make marketing decisions based on the insights Latina delivers and be confident that they are making the proper decisions rather than making judgments based on whims or data that may be inaccurate by as much as 10%.
When it comes to targeting niche demographics, having a small margin of error is especially important. There is so much rivalry in every area today that simply marketing to everyone in the hope that a few people here and there will become clients is not sufficient. For brands to be successful, they must identify their target customers so that they may promote themselves correctly and separate themselves from their competition. Furthermore, more and more firms are indeed focusing their efforts on more particular niche target audiences in recent years. However, if they are unable to obtain data, particularly reliable data, that demonstrates that their brand initiatives are having an impact, then what use are their efforts in the first place?
Advanced-Data Science in the Tracking of Brands
Latina can provide this dependable data because of Multilevel Regression and Poststratification (MRP), a cutting-edge data science technique that has previously been used to forecast voting outcomes in elections. In general, terms, utilizing all of the information supplied in the sample size, Latana’s MRP brand tracking produces an educated guess as to who the target audience group is. It’s a complicated topic, but one that’s well worth learning more about. This is in contrast to typical brand trackers, which limit the sample size to a very small number of responders, resulting in a huge margin of error.
While traditional brand tracking is no longer effective, brand managers no longer have to limit themselves to Attest or Qualtrics as their only options. Latina has arrived on the market, and its cutting-edge brand tracking software is assisting brands in growing and achieving amazing results.